Banking & Finance

June 4: VN-Index down slightly

Released at: 14:37, 04/06/2018 Stock Market Watch

Chart from vneconomy.vn

Events in banking industry leave a mark on morning trade.

by Hai My

The stock market’s first morning session of the new week was accompanied by significant events in the banking industry. Former BIDV Chairman Mr. Tran Bac Ha was subject to disciplinary action that resulted in strong selling of its shares, BID, early on. Its low price then attracted buyers, with it down only VND700 ($0.03) at the close after hitting its floor.

The other event was Techcombank (TCB) officially listing on HSX at a reference price of VND128,000 ($5.6) per share. Profit-taking pressure, however, saw the stock hit its floor.

Other banking stocks were quite active and increased, with TPB gaining 6.43 per cent, VPB 5.65 per cent, STB 4.68 per cent, VCB 2.81 per cent, MBB 1.2 per cent, and HDB 0.73 per cent.

The market was helped by blue-chips VJC, VNM, BVH, GAS, HPG, HSG, DHG and CTD. Securities, construction and real estate stocks also had a positive morning.

The VN-Index closed slightly down, at 1003.68 points, but was up 1.09 per cent compared to the reference. HSX saw 164 gainers and 105 losers. The VN30-Index increased 1.9 per cent with 21 gainers and eight losers.

On HNX, VGC gained 3.9 per cent, VCG 1.67 per cent, ACB 1.48 per cent, VCS 1.19 per cent, and SHB 1.09 per cent. The HNX-Index rose 0.88 per cent with 73 gainers and 59 losers. The HNX30 rose 0.99 per cent with 15 gainers and six losers.